HANOI, Jan. 13 (Xinhua) -- Vietnam's coffee exports grew strongly in 2022 thanks to a rebound in demand and high coffee prices, in the context of tight global supply due to crop failures and supply chain bottlenecks in large producing countries such as Brazil and Colombia, local media reported on Friday.

Vietnam exported 1.77 million tons of coffee with a total turnover of more than 4 billion U.S. dollars last year, up 13.8 percent in volume and 32 percent in turnover compared to 2021, local newspaper Vietnam News reported.

The European Union (EU) continued to be Vietnam's largest coffee consumption market, accounting for about 39 percent of total export volume, according to the country's General Department of Vietnam Customs.

Along with the EU market, China's opening of its border from Jan. 8 is also an opportunity for Vietnam's coffee exports to regain momentum growth in this market in the near future, the newspaper reported.

Exports at the beginning of the 2022-2023 crop year are still quite favorable, but some forecasts suggest that coffee exports may decrease this year because the supply is not as abundant as the previous year, while the price of coffee tends to decline due to the coffee supply-demand shifts from shortage to surplus.

Last year's coffee export price recorded the highest level in many years with an average of 2,282 dollars per ton, up 16 percent year on year. Enditem

Related

Go to Forum >>0 Comment(s)